JEFFERSON CITY, Mo. — State Auditor Nicole Galloway has released an audit of the Missouri Department of Conservation Employees’ Benefit Plan (CEBP). The report gave a rating of “good” to the program, which provides medical, life and other insurance benefits to MDC employees and retirees.
The audit found that salaries and benefits provided to the MDC employees who administer the benefit plan are paid from the Conservation Commission Fund rather than the CEBP Trust Fund. The report recommended the CEBP Board of Trustees work with the MDC to use the CEBP Trust Fund to pay the proportionate share of personnel costs for administering the plan.
The audit also recommended that the Board of Trustees periodically obtain experience studies and audits of actuarial valuations of the OPEB liability. This is a well-known best practice to ensure the calculations the benefit plan is relying on are accurate and sound.
The report also found the CEBP did not monitor performance guarantees of its third party administrator; that the composition of the current five-member Board of Trustees did not represent varied and balanced interests, including retirees; and that the Board did not have a conflict of interest policy.
The audit also addressed the management and retention of electronic communication. The CEBP follows the records management and retention policy of the MDC, which does not comply with the guidance of the Missouri Secretary of State Records Service Division as approved by the Missouri State Records Commission.
A complete copy of the CEBP audit can be found here.
